Cautionary note regarding forward looking statements:
Certain statements, other than statements of historical fact, contained in this presentation constitute “forward-looking information” within the meaning of certain securities laws, including the Securities Act (British Columbia) and are based on expectations, estimates and projections as of the date on which the statements are made in this presentation. Forward-looking information include, without limitation, statements with respect to: the sufficiency of our existing cash resources to enable us to continue our operations as a going concern; future exploration expenditures on the Beskauga Property; the potential exercise of the Beskauga Option and potential bonus payments under the Beskauga Option Agreement; the prospects of entering the development or production stage with respect to the Beskauga Project; our planned activities at the Beskauga Project in 2023 and beyond; our ability to obtain and hold additional concessions in the Beskauga Project area; the timing, duration and overall impact of the novel coronavirus (“COVID-19”) pandemic, Russian-Ukrainian war, economic inflation and other global or regional events or occurrences on the our business; the future use of funds; the sufficiency of our surface rights in respect of the Beskauga Property if a mining operation is determined to be feasible; the potential acquisition of additional mineral properties or property concessions; the impact of recent accounting pronouncements on our financial position, results of operations or cash flows and disclosures; our ability to raise additional capital and/or pursue additional strategic options, and the potential impact on our business, financial condition and results of operations of doing so or not; and the impact of changing foreign currency exchange rates on our financial condition. The words “plans”, “expects”, “scheduled”, “budgeted”, “projected”, “estimated”, “timeline”, “forecasts”, “anticipates”, “suggests”, “indicative”, “intend”, “guidance”, “outlook”, “potential”, “prospects”, “seek”, “strategy”, “targets” or “believes”, or variations of such words and phrases or statements that certain future conditions, actions, events or results “will”, “may”, “could”, “would”, “should”, “might” or “can”, or negative versions thereof, “be taken”, “occur”, “continue” or “be achieved”, and other similar expressions, identify some but not necessarily all forward-looking information.

Forward-looking information is necessarily based upon management’s perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by management as of the date on which the statements are made in this presentation, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking information ultimately being incorrect. In addition to the various factors and assumptions set forth in this presentation, the material factors and assumptions used to develop the forward-looking information include, but are not limited to: the future prices of metals and other commodities; the current COVID-19 pandemic, Russian-Ukrainian war and economic inflation will not have a material adverse effect on Arras Minerals Corp. (the “Company”); the ability to raise any necessary additional capital on reasonable terms to advance exploration and development of the Beskauga Project; the demand for and stable or improving price of metals and other commodities; general business and economic conditions will not change in a material adverse manner; the Company’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the geology of the Beskauga Project as described in the Beskauga Technical Report; the accuracy of budgeted exploration costs and expenditures; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; the Company’s ability to attract and retain skilled personnel and directors; political and regulatory stability; the receipt of governmental, regulatory and third-party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital markets; and availability of equipment.

By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Known and unknown risk factors, many of which are beyond the control of the Company, could cause actual results to differ materially from the forward-looking information in this presentation. Such factors, without limitation, the following, which are discussed in greater detail in the “Risk Factors” section of the Company’s long-form prospectus dated May 31, 2022: our ability to continue as a going concern as a single-project company; risks relating to our negative cash flows from operating activities; our operations may be disrupted, and our financial results may be adversely affected, by global outbreaks of contagious diseases, including the COVID-19 pandemic; we are uncertain that we will be able to maintain sufficient cash to accomplish our business objectives; we are an exploration stage mining company with no history of operations; we have no commercially mineable ore body; our exploration activities require significant amounts of capital that may not be recovered; our ability to meet our current and future capital requirements on favorable terms or at all; risks relating to the results of future exploration at the Beskauga Property and our ability to raise the capital for exploration expenditures on the Beskauga Property to maintain the effectiveness of the Beskauga Option; the reliability of our Mineral Resource estimates; our ability to acquire additional mineral properties or property concessions; inherent risks in the mineral exploration industry; risks relating to fluctuations of metal prices; risks relating to competition in the mining industry; risks relating to the title to our properties; risks relating to our option and joint venture agreements; risks associated with joint ventures; our ability to obtain required permits; timing of receipt and maintenance of government approvals; compliance with laws is costly and may result in unexpected liabilities; our success depends on developing and maintaining relationships with local communities and other stakeholders; risks relating to social and environmental activism; risks relating to evolving corporate governance and public disclosure regulations; risks relating to foreign operations; risks relating to worldwide economic, regional and political events; risk of political and economic instability in Kazakhstan; our financial condition could be adversely affected by changes in currency exchange rates; risks relating our “foreign private issuer” status; risks relating to our possible status as a passive foreign investment company; risks relating to volatility in our share value; further equity financings leading to the dilution of our Common Shares; our Common Shares continuing not to pay dividends; risks relating to information systems and cybersecurity; our ability to retain key management, consultants and experts necessary to successfully operate and grow our business; our overlapping officers and directors with Silver Bull may give rise to conflicts of interest; our reliance on international advisors and consultants; risks related to the armed conflict between Ukraine and Russia; risks related to the Listing; risks relating to changes in tax laws; and risks relating to changes in regulatory frameworks or regulations affecting our activities.



These risk factors are not intended to represent a complete list of the factors that could affect the Company and investors are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except to the extent required by applicable law.

National Instrument 43-101 – Standards of Disclosure for Mineral Project (“NI 43-101”): Scientific and technical information concerning the Beskauga Property is summarized, derived or extracted from the NI 43-101 technical report entitled “Beskauga Copper-Gold Project, Pavlodar Province, Republic of Kazakhstan, Amended & Restated NI 43-101 Technical Report” with an effective date of February 20, 2022, the news releases of the Company dated September 14, 2022 titled “Arras Minerals intercepts 689.2m @0.76% CuEq. Including 120.9m@2.35% CuEq which includes a zone of 17m @7.48%CUEq at Beskauga in Kazakhstan”; October 19th, 2022 titled “ Arras Minerals Intercepts 1124.1m @0.61% CuEq. Including 136.0 @1.01% CuEq at Beskauga”; January 23, 2023 titled “Arras Minerals intercepts 365m@0.88% CuEq, including 64m @2.262% CuEq at the Beskauga Project, Kazakhstan”; March 6, 2023 titled “ Arras Minerals Drills New Gold zone 3.2 kilometers from the main deposit on the Beskauga licence, Northeastern Kazakhstan”; April 5, 2023 titled “Arras Minerals intercepts 778.2m@0.40% CuEq, including 322.4m @0.51% CuEq on the Beskauga Licence, Northeastern Kazakhstan”; May 25, 2023 titled “ Arras Minerals intercepts 603.7m @0.40% CuEq, including 317.6m @0.55% CuEq on the Beskauga Licence, Northeastern Kazakhstan” and Arras’ other disclosure documents, including news releases (the “Disclosure Documents”). The Disclosure Documents are available for review on Arras’ SEDAR profile at www.sedar.com.

There are no known legal, political, environmental, or other risks that could materially affect the potential development of the Beskauga Property. Readers are cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Readers are also advised to refer to the Disclosure Documents, which are available on SEDAR, for detailed information (including qualifications, assumptions and notes set out accordingly) regarding the technical information contained in this document.

Gold, copper and other mineral equivalents are calculated on the bases specifically set forth in respect thereto in this presentation and are based upon the reasonable assumptions as to the prices of various metals and minerals as well as assumptions as to the recovery thereof made by management of the Company on a project by project basis as converted metal. Copper Equivalent calculations assume: Copper US$3.50/lb & 90% recovery; Gold US$1750/oz & 80% recovery. Prices for such commodities may be subject to fluctuation. There is no guarantee that such equivalent calculations are representative of the economics of the project or valuation thereof.

The only project to which the Company reference minerals resources and holds an interest is the Beskauga project. All disclosure regarding any project other than the Beskauga project including, without limitation, the Bozshakol copper project owned/operated by Kaz Minerals plc and the Nurkagan project owned/operated by Kazakhmys has been derived from third party sources which the Company’s

management believes to be reliable in light of the circumstances. Readers are cautioned that the Company has no interest in any of such projects, has not independently verified any data or information with respect to such projects, and such information may be prepared and presented on the basis of different standards than that set out in NI 43-101 or standards to which the reader may be accustomed. There is no guarantee that the numbers presented on such projects will be comparable to values calculated in accordance with NI 43-101. Information contained herein with respect to any other projects is not indicative or representative of the results that may be obtained by the Company in respect of the Beskauga project. Readers are expressly cautioned not to assume any correlation between information presented herein with respect to such other projects and the Company’s Beskauga project. We assume no responsibility for any information contained herein in respect of any such other projects.

Qualified Persons: Tim Barry, CPAusIMM is the Qualified Persons under NI 43-101 and has reviewed and approved the technical information in this presentation.

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This presentation uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101 or JORC reporting codes. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the "SEC"). The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101 or JORC reporting codes.

Links from the website: This website may contain links to third-party websites that are not owned or controlled by Arras Minerals Corp. Arras Minerals corp. has no control over, and assumes no responsibility for, the information, data, opinions, advice, statements, content, privacy policies, or practices of any third-party websites, and you access and use these websites solely at your own risk. Accordingly, we encourage you to be aware when you leave the website and to read the terms and conditions of use for each other website that you visit.